Poll: Do you support public funding for a new Seattle arena?

On the latest episode of HBO’s “Last Week Tonight with John Oliver,” the comedian-turned-newsman analyzed public funding for professional sports stadiums as the lead topic for the show.

Chris Hansen’s proposed Sodo arena.

The segment generated a lot of discussion since it aired on Sunday. It’s certainly worth thinking about in Seattle, as several parties attempt to bring a new NHL/NBA arena to the Emerald City.

In Sunday’s segment, Oliver referenced a 2008 report from the Econ Journal Watch, which concluded that after nearly 20 years of studies, “no substantial evidence of increased jobs, incomes or tax revenues” occurred as a result of stadiums across the United States.

In recent memory, Seattle hasn’t been shy about spending for professional athletic venues. But how much would a new arena actually benefit Seattle in the long-run?

In October 1995, a special session of the state legislature authorized a funding package for Safeco Field, with a total cost of $518 million. Once approved by King County, the Mariners’ home carried a public price tag of around $390 million raised primarily through additional sales taxes.

[Note: An earlier version of the story said Seattle approved the funding. We regret the error.]

Less than two years later, voters approved funding for a new NFL stadium after former owner Ken Behring threatened to move the Seahawks to California. That 1997 vote passed by less than 37,000 ballots, or just over 2 percent of the over 1.6 million votes cast.

In total, the two stadiums cost the city of Seattle nearly $700 million dollars. CenturyLink Field bond debt is still being paid off and is scheduled to continue to do so until 2021, according to MarketWatch. Safeco Field took 15 years to pay off — five years faster than expected.

Seattle recently paid off its $67.6 million Kingdome debt — incurred during 1994 repairs to its tile roof — 15 years after its demolition. According to a piece from The Seattle Times’ Geoff Baker, municipal bonds for the former home of the Seahawks and Mariners dating back to 1972 weren’t paid off in full until 2011.

The city now has a potential Sodo Arena in the works, contingent upon hedge fund manager Chris Hansen securing the rights to an NBA franchise.

According to a Memorandum of Understanding (MOU) negotiated by Hansen, the City of Seattle and King County, the city could provide up to $200 million in public funds for a combined NHL and NBA arena downtown, and $125 million for a NBA-only facility. It hasn’t, however, given any inclination of public support for an NHL-only arena.

In their deal with Hansen, Seattle has set its lowest public budget for a professional sports venue in decades. But a new arena could potentially push the cost for professional sports facilities to nearly $1 billion dollars over 20 years.

Hansen’s proposal claims numerous economic benefits for the city, but that’s contradicted by the conclusions of the Econ Journal Watch study. Meanwhile, a rival plan to build an arena in Tukwila is entirely funded by private money, at least for now.

So Seattle, how do you feel about the proposed public burden for a new arena?

Would you support up to $200 million in public funding for a new Seattle arena?

Yes: Securing an NBA or NHL team is necessary for civic pride.

No: There's no need for billionaires to use public funds on sports facilities.